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-   -   Credit card debt settlement? (https://www.askmehelpdesk.com/showthread.php?t=124685)

  • Aug 31, 2007, 02:13 PM
    ptguy
    Credit card debt settlement?
    I answered a summons that I received back in July. It was on a debt of $10, 000 the creditor says I owe. I gave them my answers, they in turn sent me statements from two years ago, but I haven't received a statement from them since Nov. of 2006. They charged off the amount back in December. I saw that on my credit report. They never called or wrote to let me know what happened to the account. Now they either want me to settle or go to court. I don't have the money to go to court, and their offer stinks. It's like $234.00 for five years at 11% interest, or 65% of that amount paid off in 90 days.

    What should be my next move? Should I get legal help and see if what Chase did was legit by not letting me know that the account was charged off? Should I make a settlement now with what I can afford? Make my own offer? Please help.
  • Aug 31, 2007, 02:13 PM
    ScottGem
    Quote:

    Originally Posted by ptguy
    If a credit card company didn't send me a statement for nine months and all of a sudden sent me a summons, do I have a chance to fight this? I checked on my credit report and Chase charged off the credit back in nov. of 2006. I answered their summons, now they want me to either settle or go to court. The credit card company sent me all the statements for the past two years. The last one I received was November 2006. They never called, wrote, or anything to let me know they are writing it off as a bad debt. I don't want to go to court, and their settlements sound ridiculous. Should I get legal help? I don't really have the money for this. Should I offer them a low ball figure. Right now they want 65% of 10,000 in 3 months, or the full amount paid off with 11% interest for 5 years. Please help. What's my next move?

    First ,its not a good idea to piggyback your question on someone else's thread. It generally causes confusion. So I've requested your question be moved to its own thread.


    I'm sorry, but you are in the wrong here. Legally they do not have to send you any statements. You know you had or were charging stuff on the card, so that you should have known payment was due. If you stopped getting statements it was YOUR responsibility to contact them and ask why.

    Also, their writing it off has NOTHING to do with you. Its simply a tax move they make for their own finances.

    ISo, your next move woiuld seem to be to accept their offer or make a counter offer which they may or may not accept. If they don't accept your counter then you either cave in or go to court. Your only hope of succeeding in court would be if they can't prove the debt by showing the original signed contract.
  • Aug 31, 2007, 02:48 PM
    ScottGem
    First, they are required to do everything in writing if you request it. You can request verification of the debt, but if they can produce 2 years of statements they can probably come up with the contract.

    Why did you not contact them when you stopped getting statements?

    P.S. Please reply to the thread, PMs should only be used for personal correspondence.
  • Sep 1, 2007, 09:55 AM
    ptguy
    Scott,
    You know that old saying... Out of sight, out of mind. And that's what happened. I totally forgot about the statements and the debt. The next thing I realized two months ago, was a summons about the debt.

    Thanks for your replies. Yes, they came up with two years of statements, but I think there are some unanswered questions on the summons that they need to give me. I will have to check again.
    Thanks for your help Scott.

    ptguy

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